Velryba sends over 1,999 ETH to the exchange - risk of higher losses

A cryptocurrency whale is making a significant move – transferring 1,999 ETH to an exchange platform. If this step were to liquidate all transferred tokens at current prices, it would face a substantial loss because these ETH were originally acquired at much higher prices. According to data from the analytics platform NS3.AI, this is a sophisticated move by a major market player.

How the whale’s position has evolved

Last year, the whale accumulated a portfolio of 6,411 ETH with an average purchase price of approximately $3,873 per unit. This means the original investment of this whale exceeded $24 million. Even with the latest market movements, this position remains significant – the current market price of ETH at $2,650 creates an interesting dynamic between the initial allocation and the current market state.

Transaction and its impact

The transfer of 1,999 ETH to an exchange represents an amount of over five million dollars. Since the whale acquired these tokens at worse average prices, its decision to now realize part of the position signals a strategic change. If all the transferred ETH were sold at current market prices, it could result in a loss of several million dollars.

Why the whale remains engaged

Despite this move, the whale has kept 3,803 ETH in its original position. This remainder sends an important signal – the whale is not completely abandoning its long-term exposure to Ethereum. Such a partial exit often indicates that the major player is trying to diversify risks while maintaining exposure to future ETH movements. This strategy suggests that the whale believes in the long-term potential of the project, even though it is realizing some gains or losses in the short term.